Kentucky Mortgage Loan Info in regards to Credit Score, Down payments and debt to income ratios.


Loan Info in regards to Credit Score, Down payments and debt to income ratios.

 

Here are a few Kentucky mortgage misconceptions in regards to qualifying for a Mortgage loan in 2020

Credit Score Myth For Kentucky Mortgage Loans

53% of people surveyed believe they need a minimum credit score of 650 to qualify for a mortgage.

 

Credit Score Facts For Kentucky Mortgage Loans

There are many loan programs available for credit scores as low as 580 for government backed loans like FHA, VA, and USDA.

Down Payment Myths for Kentucky Mortgage Loans

The minimum down payment required is 3% (or even 20%).

 

Down Payment Fact

Many loan programs, including conventional loans, are available with down payments as low as 3%. USDA, VA, and Kentucky Housing Corp with their down payment assistance offer zero down payment options. 

Debt-to-Income Myths for Kentucky Mortgage Loans

Most people think 40 to 45%% (percent of your monthly income that goes to debt payments) is the max.

 

Debt-to-Income Fact

Lenders may accept higher ratios depending on things like credit score and down payment amount. FHA and VA will allow over 50% debt to income ratios on the back-end, but Conventional and USDA restrict their back-end debt to income ratios to 45% or less.

 

Think back to the last time you financed a purchase — be it a home, automobile, or what have you… You may remember having heard the term “debt-to-income ratio.” Today I want to spend some time going over exactly what this ratio is, and to also touch on how it can effect your personal finances.

What is your debt-to-income ratio?

Commonly referred to as your “DTI,” your debt-to-income ratio is a personal finance benchmark that relates your monthly debt payments to your monthly gross income.
As an example… Let’s say that your gross monthly salary is $5,000 and you are spending $2,800 of it toward monthly debt payments. In that case, your DTI would be an unhealthy 56%.
This version of your DTI is sometimes referred to as your “back-end” DTI. This is often broken down further to give a front-end debt-to-income ratio, which is a component of your back-end DTI.

How to calculate your front-end DTI for a Kentucky Mortgage Loan Approval

Your front-end DTI is calculated by dividing your monthly housing costs by your monthly gross income. Front-end DTI for renters is simply the amount paid in rent, whereas for homeowners it is the sum of mortgage principal, interest, property taxes, and home insurance (i.e., your PITI) divided by gross monthly income.
From above, if that $2,800 in debt payments is attributable to $1,500 in housing costs and $1,300 in non-housing costs, then your front-end DTI is $1,500/$5,000 = 30% (and your back-end ratio is still 56%, as calculated above).

How lenders use your DTI for a Kentucky Mortgage Loan Approval

Kentucky Mortgage lenders typically use DTI (along with other variables) to determine whether or not you qualify for a loan, and to help determine your Kentucky mortgage rate. A high front-end DTI raises red flags with lenders because it is commonly associated with borrower default. In fact, reducing front-end DTI to reduce the risk of homeowner default was one of the main objectives of the loan modification programs introduced by the government in 2009.
There are specific limits for DTI that are used as cut-off points when evaluating borrowers. Current DTI limits for conventional conforming mortgage loans are typically 28% on the front end and 36% on the back end, though these limits are slightly higher for government subsidized Kentucky FHA loans.
While there are certainly other factors to consider
Acceptable Ratios
Housing Debt to Income
Conventional 28% 41-50%
FHA 29% 41-56.5%
VA
USDA/RHS
KHC 
29%
29%
40%
41-65%
41-45%
50%
Higher ratios may be accepted with compensating factors: low loan value, large cash reserves after closing, high credit scores, etc,

 

The bottom line: When it comes to home loans, one size definitely does not fit all, and it can be hard to determine what’s best for your situation on your own. Speaking to a mortgage professional about your unique circumstances is usually your best bet.

Ready to get started? Contact us at 502-905-3708.

 

 

 

Mortgage Costs for A Kentucky Mortgage Loan


A Complete Guide to Closing Costs

Types of Closing Costs

Let’s talk briefly about the types of closing costs you might encounter and how much those costs tend to run. Understand that closing costs, especially tax-related costs, will vary widely depending on where you live. But some costs can be estimated based on national averages.
Also, you should know that with fluctuations in the real estate market, closing costs are also fluctuating. A 2012 US News article pointed out that closing costs dropped 7 percent over 2011-2012 to an average of about $3,754.
The drops are, in part, because of 2010 regulations that were put in place by the government to shield homebuyers from “closing cost sticker shock.” Now that lenders are better at estimating final closing costs, those costs are dropping naturally.
Still, the national average for closing costs is nearly $4,000, which isn’t pocket change for your average homebuyer. So where’s all that money going? Here are some of the closing costs you might have to pay, along with average costs, based on the Allstate Home Buyers Closing Cost Worksheet.
  • Mortgage Application Fee: This fee varies from lender to lender but usually is $200-$400. You don’t have to pay this fee when you’re shopping around for a mortgage, but you’ll probably pay it when your chosen lender is processing your application. Sometimes this fee is due ahead of closing.
  • Appraisal Fee: This fee can sometimes be paid by the seller but is normally paid by the buyer. Basically, the fee goes to a professional appraiser who will ensure that the bank isn’t lending you more money than a property is worth. It’ll cost $100-$400.
  • Building Inspection: If you need to hire a home, pest or other specialized inspector, you’ll have to pay the fee. Some lenders will require an inspection to make sure the property is in good condition. This fee runs $150-$400 on average.
  • Survey: This is a fee you’re likely to skip, though it’s required by commercial lenders. It is for a surveyor to check out the lot and the structures on it to ensure the boundaries are properly noted. It can cost $300-$450.
  • Legal Fees: Although attorney fees will add extra to your bill, you may want to pay a professional to ensure that all the documentation for your home is in order. Some lenders will bring along their own attorney, but yours will ensure that your personal interests are protected. Legal fees can run $300-$600, depending on your attorney and what you’re requiring of him or her.
  • Title Search and Insurance: A title insurance company will ensure that the title to the home is free and clear — that no one else will have claims on it. Sometimes a title search is separate from title insurance and will cost $150-$200. Title insurance varies but is usually about 1 percent of the home price.
  • Private Mortgage Insurance (PMI): If you put less than 20 percent down on your home, you’ll likely have to pay PMI. The average PMI premium is 2.5 percent of the mortgage, though your premium will vary depending on the value of your home, your credit score and your down payment. If you need PMI, you’ll likely have to pay a portion of the premium at closing. (Note: If you’re getting an FHA, VA or RHS government-backed loan, you’ll pay something like PMI, but it will be paid to the guarantor.)
  • Homeowners Insurance: All lenders will require that you carry homeowners insurance on a property as long as it’s mortgaged. Typically, you’ll have to pay the first year’s property insurance premium in advance. Sometimes you’ll pay the insurer directly, but other times you’ll pay at closing.
  • Prepaid Interest: This one can get a little complicated. Let’s say your mortgage payment is due on the 1st of every month, but you close on your new home on the 15th. If this is the case, the lender will calculate the interest you owe for those 15-16 days remaining in the month, and that interest payment will be due at closing. Sometimes the seller reimburses these costs, since it’s often in his or her best interest to close as soon as possible — before your first mortgage payment is due. These costs will depend on your mortgage amount, interest rate and the time between closing and your first payment coming due.
  • Points: Points are another form of prepaid interest, but they’re generally not required. You can pay, usually, from 0-4 points on your mortgage. One point equals 1 percent of the total mortgage principal. (If you’re taking out a $100,000 loan, a point is $1,000, for instance.) One point usually reduces your interest rate by 1/8 percent. If you choose to pay points (rather than increasing your down payment), you’ll do so at closing.
  • Escrow Fees: The majority of homeowners use an escrow system for paying real estate taxes, fire and flood insurance, homeowners insurance and PMI. The escrow account is held either by a third party or by your lender, depending on your circumstances, and it’s used to pay all of the annual or monthly premiums for these important homeownership-related items. When you close on your home, you’ll generally need to put around three months’ worth of escrowed fees in the account.
  • Realty Transfer Tax: The taxes you pay on transferring a property are similar to the taxes you pay when you buy a new (or new-to-you) vehicle. Taxes vary by your state and municipality.
  • Recording Fees: Your local government will have to record the purchase transaction of your new home, which will cost $40-$60, on average.
  • Prorated Expenses: Some of the lump-sum costs associated with your home — water bills, homeowner association fees, condominium fees, etc. — could be split between you and the seller during your transaction. If you buy a home midway through the year, for instance, you may need to pay 50 percent of these fees. These expenses will depend on when you buy your home and are often negotiable with the seller

Ways to Pay Closing Costs

There are several ways to pay closing costs. Start by getting a Good Faith Estimate and then figure out which option will work best for you.

Good Faith Estimate

According to the Federal Reserve, the Real Estate Settlement Procedures Act requires that a lender give you a “good faith estimate” of your closing costs within three business days of your submitting your loan application.
Basically, the Good Faith Estimate (GFE) is part of shopping around for a mortgage. Because different lenders will have different requirements, closing costs can vary widely. So before you choose a mortgage, carefully look over the GFE to find differences between lenders.
While federal regulations aiming for more transparency in home lending have made good faith estimates somewhat more accurate, you have to remember that it’s still an estimate.
Saving for closing costs is a “hope for the best, plan for the worst” situation. Try to figure out the most you’d have to pay in closing costs and be prepared to pay them (while still leaving some cash in reserves). But you should also find the best lender for your needs and reduce closing costs as much as possible.

Pay in cash

The easiest way to pay closing costs, of course, is cash. If you have enough money in savings to pay for your down payment and your closing costs and to have cash in reserves, this is often the best option.
Paying more closing costs keeps you from taking out a bigger loan and can save you money on mortgage interest, which may save you a fortune over the life of your loan.

Roll it into the mortgage

If you don’t have plenty of cash on hand, you can roll your closing costs into your mortgage. Because closing costs are generally a small amount of money compared with your overall mortgage, most lenders don’t mind rolling part or all of the closing costs into the loan.
However, you do have to be careful because rolling your closing costs into your mortgage may mean you can’t spend as much money on a house. For instance, if, based on your credit, your lender agrees to finance up to 90 percent of the value of a $150,000 home, they may not go over that loan-to-value ratio, even to roll in closing costs.
In this scenario, say you’ve agreed to put $15,000 (10 percent) down on a home worth $150,000. Your lender agrees to finance 90 percent of the home’s value, leaving a $135,000 mortgage. If you don’t have cash for the $5,000 in closing costs, you could ask the lender to roll that into your loan, making your mortgage $140,000.
But if the lender isn’t comfortable financing 95 percent of the home’s value (a very high loan-to-value ratio in the world of home lending), you may be out of luck. In this case, you might have to find a cheaper home so that you can pay a smaller down payment and have money left for closing costs.
One thing to note: many government-backed loans, like the FHA and VA loans, are set up specifically for first-time or lower-income home buyers, who often have trouble saving for a down payment and closing costs. Because of this, it’s common for these loans to roll closing costs into the mortgage and to finance even above 95 percent of the home’s value.

Ask the seller to pay some costs

This is easier to accomplish in a sluggish housing market, or any time the seller is ready to get out of the home ASAP. In some cases, the seller will take part of the closing costs out of the money they’re getting when they sell the home.
If you don’t have money to pay closing costs, this is a good way to save money without increasing your loan (and, thus, your monthly mortgage payments). And what’s the worst that can happen? The seller may just say no.

Ask the lender to pay closing costs

Sometimes a lender will pay your closing costs, even if they don’t roll them into your mortgage. For instance, your lender might just outright pay $4,000 toward your closing costs but then raise the interest rate on your loan by 0.25 percent or more. (They’re not in the habit of giving away free money, after all.)
You’ll need to make sure this doesn’t come back to bite you. Figure out how much that extra interest will cost you over the life of your loan, or at least the length of time you plan to be in the home, and see if this is a reasonable approach for you.

Borrow for your closing costs

Taking out a separate loan for a down payment is usually a no-no. Your main lender wants to be the only one to have a claim on your home if you should default.
However, you could take out an unsecured loan to cover closing costs. Just be careful here, as interest rates could really bite on a personal unsecured loan.

Find Out How Much to Expect in Closing Costs

That’s a lot of information, and, unfortunately, it doesn’t tell you exactly how much you’ll pay in closing costs. You may not know exact closing costs until you’re ready to close on your home, but you can get a good idea of these costs online by using these resources:
  • SmartClosing Calculator – This calculator from Zillow will calculate costs based on where you’re buying a home, so taxes and government fees will be added in. The calculator will also show you the total amount you can expect to pay in mortgage payments, including real estate taxes and homeowner’s insurance.
  • Federal Reserve Settlement Costs Worksheet – This worksheet is good for comparing potential mortgage. It lets you compare the closing costs for two loans.
  • How do closing costs impact my interest rate? – This calculator from Yahoo! Homes will show you how financing closing costs, as opposed to paying them in cash, will affect your mortgage’s interest rate.

KHC = Kentucky Housing Corporation DAP = Down Payment Assistance Program for Credit Scores of 620

KHC = Kentucky Housing Corporation DAP = Down Payment Assistance Program for Credit Scores of 620


KHC offers two Down payment Assistance Programs (DAPs) to make home buying affordable for Kentuckians.

Please Note:

KHC = Kentucky Housing Corporation

DAP = Down Payment Assistance Program.

Depending on your individual qualification criteria (credit, income, etc), you would receive up to $6,000 from KHC to apply towards the down payment (if applicable below), closing costs, or both.  You could go VA without the assistance of KHC since there potentially would be no down payment required, but then you’d be responsible to cover any closing costs.  Going through KHC would be your best shot at getting to a truly “zero down” situation.  Hope this helps.

 

KHC Loan Programs

 

Conventional

  • Insured by approved mortgage insurance company.
  • Minimum credit score of 660 or better.
  • Quick turnaround time, 20 percent down payment and no up-front or monthly mortgage insurance.

 

 
American Mortgage Solutions, Inc.
10602 Timberwood Circle Suite 3
Louisville, KY 40223
Company ID #1364 | MB73346
 


Text/call 502-905-3708
kentuckyloan@gmail.com

http://www.nmlsconsumeraccess.org/
If you are an individual with disabilities who needs accommodation, or you are having difficulty using our website to apply for a loan, please contact us at 502-905-3708.

Disclaimer: No statement on this site is a commitment to make a loan. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the home to meet Loan-to-Value requirements, and final credit approval. Approvals are subject to underwriting guidelines, interest rates, and program guidelines and are subject to change without notice based on applicant’s eligibility and market conditions. Refinancing an existing loan may result in total finance charges being higher over the life of a loan. Reduction in payments may reflect a longer loan term. Terms of any loan may be subject to payment of points and fees by the applicant  Equal Opportunity Lender. NMLS#57916http://www.nmlsconsumeraccess.org/

— Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. The content in this marketing advertisement has not been approved, reviewed, sponsored or endorsed by any department or government agency. Rates are subject to change and are subject to borrower(s) qualification.

 

 ​Buying a Kentucky Home No Money Down with a Conventional Loan from Kentucky Housing Down Payment Assistance​​

Buying a Kentucky Home No Money Down with a Conventional Loan from Kentucky Housing Down Payment Assistance​​


Conventional Loan with Kentucky Housing Down Payment Assistance​

How to Buy a House In Kentucky With No Down Payment.

😃

 

  • 30 year fixed rate with no prepaypaymet penalty .​
  • Loan requires 3% down payment but you can use the $6000 down payment assistance for your 3% contributions
  • ​660 Minimum Credit Score Required
  • No bankruptcies in the last 4 to 7 years 
  • Must receive an Approved Eligible Recommendation through Desktop Underwriting System (AUS)
  • No mortgage insurance 
  • Free Homebuyer Education Course required. https://www.readynest.com/homebuyer-resources/the-test
  • ​Home inspection not required but recommended
  • Seller can contribute 3% toward buyer’s closing costs and prepaids
  • Current cost of Conventional appraisal is $425. 
  • Kentucky Housing Mortgage rates can change daily, but typically follow other mortgage rate trends. Everyone gets the same rates with KHC loans.
  • Appraisal to meet Conventional Appraisal Guidelines
  • You have 45 days to close the loan once you lock the loan. If you go past this date, you will have to pay lock extension fees to KHC. 
  • $6000 down payment assistance for down payment and closing costs and prepaids. Cannot be used for home repairs. 
  • $6000 Down payment Assistance Second Mortgage over 10 years at 5.5% interest, or for lower household income you can do the $6,000 down payment assitance loan for 10 years at 1% interest. This falls under the Affordable Dap Income Limits http://www.kyhousing.org/Home-Buyers/Documents/Affordable%20DAP%20Income%20Limits.pdf
  • Max housing ratios of 40% and 50% respectively. Meaning, your gross monthly income divided by your total house payment cannot be more than 40% of your total gross monthly income. And the bills listed on the credit report (monthly payments) combined with new house payment cannot be more than 50% of your total gross monthly income. 
  • Household Income limits by county. Most limits are around $130,000 for the largest counties in Kentucky like  Jefferson, Fayette, 
  • http://www.kyhousing.org/Home-Buyers/Documents/SMP%20Income%20Limitations.pdf
  • Max loan is ​314,827.00
  • County Applicant(s) Income Limit County Applicant(s) Income Limits
    Anderson
    120,400
    Jefferson
    133,700
    Boone
    142,275
    Jessamine
    130,375
    Bourbon
    130,375
    Kenton
    142,275
    Bracken
    142,275
    Larue
    119,175
    Bullitt
    133,700
    Lyon
    111,475
    Campbell
    142,275
    McLean
    123,200
    Christian
    113,750
    Mercer
    110,600
    Clark
    130,375
    Nelson
    115,675
    Daviess
    123,200
    Oldham
    133,700
    Fayette
    130,375
    Pendleton
    142,275
    Franklin
    119,350
    Scott
    130,375
    Gallatin
    142,275
    Shelby
    133,350
    Hardin
    119,175
    Spencer
    133,700
    Hancock
    123,200
    Trigg
    113,750
    Henderson
    117,600
    Trimble
    133,700
    Henry
    133,700
    Woodford
    130,375 
  • Applicant’s Income Limit for all other counties not listed above: $109,725

 

American Mortgage Solutions, Inc.
10602 Timberwood Circle Suite 3
Louisville, KY 40223
Company ID #1364 | MB73346


Text/call 502-905-3708
kentuckyloan@gmail.com

http://www.nmlsconsumeraccess.org/
If you are an individual with disabilities who needs accommodation, or you are having difficulty using our website to apply for a loan, please contact us at 502-905-3708.

Disclaimer: No statement on this site is a commitment to make a loan. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the home to meet Loan-to-Value requirements, and final credit approval. Approvals are subject to underwriting guidelines, interest rates, and program guidelines and are subject to change without notice based on applicant’s eligibility and market conditions. Refinancing an existing loan may result in total finance charges being higher over the life of a loan. Reduction in payments may reflect a longer loan term. Terms of any loan may be subject to payment of points and fees by the applicant  Equal Opportunity Lender. NMLS#57916http://www.nmlsconsumeraccess.org/

— Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. The content in this marketing advertisement has not been approved, reviewed, sponsored or endorsed by any department or government agency. Rates are subject to change and are subject to borrower(s) qualification.

 

Kentucky Homebuyers Down Payment Grants for 2020


List of  Kentucky Homebuyers Down Payment Grants for 2020

 

 

 

 Kentucky Housing Corporation Down Payment Assistance for 2020.

 

Down Payment Closing Cost Assistance

KHC recognizes that down payments, closing costs, and prep​aids are stumbling blocks for many potential home buyers. Here are several loan programs to help. Your KHC-approved lender can help you apply for the program that meets your need.

Regular DAP

  • Purchase price up to $314,827 with Secondary Market.
  • Assistance in the form of a loan up to $6,000 in $100 increments.
  • Repayable over a ten-year term at 5.50 percent.
  • Available to all KHC first-mortgage loan recipients.

Affordable DAP

  • Purchase price up to $314,827 with Secondary Market.
  • Assistance up to $6,000.
  • Repayable over a ten-year term at 1.00 percent.
  • Borrowers must meet Affordable DAP income limits.

 

 

KHC is used for mostly applicants in urban areas of Kentucky that don’t have access to USDA or other government agencies to buy a home with no down payment.

A minimum of 3.5% down payment is required with this loan. Down payment assistance loans are available from $4500-$6,000, and are paid back over a period of ten years. They are typically offered to buyers with limited cash reserves and carry an interest rate of 1 to 5.5%. These loans can make a critical difference to buyers for whom the down payment is an obstacle. Buyers whose 3.5% down payment is less than the $6000 limit may choose to use the remainder of a down payment loan to pay closing costs, further reducing the amount needed to bring to closing.

 

 Welcome Home $5000 Grant for Kentucky Homebuyers 2020

The Federal Home Loan Bank of Cincinnati (FHLB Cincinnati) has established a set-aside of Affordable Housing Program (AHP) funds to help create homeownership through a program called the Welcome Home Program. Welcome Home funds are available to Members as grants to assist homebuyers.

Welcome Home grants are limited to $5,000 per household, households are eligible only if the total household income is at or below 80% of Mortgage Revenue Bond (MRB) income limits, and funds are offered on a “first-come, first-served” basis. Other program requirements are identified below.

What are the Program Requirements?

Below is an abbreviated list of program eligibility requirements:

The total income for all occupants must be at or below 80 percent of the Mortgage Revenue Bond (MRB) limit for the county and state where the property is located. The FHLB has an Income and Affordability Workbook to assist in determining household income eligibility.
Homebuyers must contribute at least $500 of their own funds towards down payment and/or closing costs.
WHP applicants do not have to be first-time homebuyers. However, all first-time homebuyers are required to complete a homeownership counseling program.
WHP grant funds are intended only for homebuyers who qualify for the first mortgage based on their own merit. Co-signors and co-borrowers are not allowed unless they will occupy the home as their primary residence and their incomes are included in determining eligibility.
WHP grant funds may be used in conjunction with other local, state and federal funding sources and with the FHLB Cincinnati’s Community Investment Cash Advance Programs.
The Member who reserves the WHP funds must originate the first loan, but the loan may close in the name of a third party.
The interest rate for the first mortgage may not exceed 7.50 percent.
The interest rate for the second mortgage may not exceed 11.00 percent.
Only second mortgages provided by formal organizations, community development financial institutions, housing finance agencies, non-profit organizations, etc. are acceptable.
All eligible property assisted with WHP funds is subject to a five-year retention mechanism (Retention Agreement), which may require the household to repay all, or a portion, of the subsidy, if the home is sold or refinanced within five years from the closing of the transaction.

Kentucky WELCOME HOME GRANT Available beginning March 4, 2020

*Welcome Home grant offered by FHLB of Cincinnati is available on a “first-come,
first-serve” basis only to the extent the funds are available.
Buyers do not have to be first-time homebuyers.
Homebuyers must contribute $500 toward down payment or closing costs, and cannot get cash back. Closing costs include appraisal, underwriter, title exam, credit reporting, title insurance, recording and flood determination fees.
First time homebuyers must complete a homebuyer counseling course.
Homebuyer’s income cannot exceed specific county income limits.
The home must meet specific condition requirements. Manufactured housing may be allowed. No 203k programs allowed.
Offer is subject to credit approval. Contact a Mortgage Lender for details, limits and guidelines, or if you have any questions.
Limited Time Offer

 

 

Kentucky Income limits for Welcome Home Grant for 2020

Income limits are obtained from the state housing finance agency for each state.

Use the 80% limits for the Welcome Home Program.*******

Use the 100% limits for the Disaster Reconstruction Program.

 

Kentucky 

Joel Lobb (NMLS#57916)
Senior  Loan Officer
American Mortgage Solutions, Inc.
10602 Timberwood Circle Suite 3
Louisville, KY 40223
Company ID #1364 | MB73346


Text/call 502-905-3708

kentuckyloan@gmail.com

If you are an individual with disabilities who needs accommodation, or you are having difficulty using our website to apply for a loan, please contact us at 502-905-3708.

 

Disclaimer: No statement on this site is a commitment to make a loan. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the home to meet Loan-to-Value requirements, and final credit approval. Approvals are subject to underwriting guidelines, interest rates, and program guidelines and are subject to change without notice based on applicant’s eligibility and market conditions. Refinancing an existing loan may result in total finance charges being higher over the tates. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. The content in this marketing advertisement has not been approved, reviewed, sponsored or endorsed by any department or government agency. subject to change and are subject to borrower(s) qualification.